News and Articles

Preliminary Findings of the EFTA Surveillance Authority in Additional Cases Concerning Iceland´s Emergency Act No 125/2008 - 15.12.2009

ESA has now also given notification of its preliminary views on seven other complaints from foreign financial institutions which are general claimants of one or another of the former banks concerning the legislation and actions by Icelandic authorities in connection with them. ESA´s preliminary findings are in all instances similar to that of 4 December, i.e. it accepts the arguments advanced by Iceland in these cases, the priority granted to deposits is legitimate, in ESA´s assessment, and the Icelandic authorities were, in the estimation of the Authority, entitled to safeguard the banking system and security of the general public.

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EFTA Surveillance Authority´s preliminary findings regarding a complaint concerning Iceland´s Emergency Act No 125/2008 - 8.12.2009

The EFTA Surveillance Authority (ESA) presented its preliminary findings in a letter dated 4 December 2009 on a complaint raised by a group of general creditors of the Icelandic banks Glitnir bank, Kaupthing bank, Landsbanki Islands, SPRON and Sparisjodabanki Islands.

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The IMF Executive Board to Review Iceland's Economic Programe - 21.10.2009

The IMF's Executive Board aims to discuss the first review of Iceland's economic programme at its meeting on Wednesday 28 October.

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Icesave Negotiations Concluded - Outcome Presented - 18.10.2009

Following the entry into force of Act No. 96/2009 on 2 September this year, providing a state guarantee for the Icesave Loan Agreements, discussions have been held between the Icelandic government and the Depositors’ and Investors’ Guarantee Fund (the Guarantee Fund) and representatives of the governments of the UK and the Netherlands. These discussions have now concluded and the outcome has today been presented to the government, the parliamentary Budget Committee, the coalition party caucuses and the leaders of the opposition parties. More...

From Rescue to Recovery - 14.10.2009

Prime Minister Jóhanna Sigurðardóttir wrote an article in The Banker Magazine the 5th of October 2009 about the future outlook one year after the economic crises hit Iceland with severe consequences.

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Prime Minister's Address Opening the Parliamentary Session on Monday, 05 October 2009 - 8.10.2009

Althingi reconvenes now following an unusually brief recess - in a year we will not soon forget. It has been a very difficult time for the nation, because all of us suffered a shock when so many things we trusted failed. More...

Parliament approves state guarantee for Icesave loans - 28.8.2009

Today, following 10 weeks of debate, Iceland's Parliament, the Althing passed legislation authorising a state guarantee for the loans granted by the Governments of the United Kingdom and the Netherlands to the Depositors' and Investors' Guarantee Fund of Iceland. More...

Prime Minister's statement on the postponement of IMF board decision - 31.7.2009

Statement by Jóhanna Sigurðardóttir, Prime Minister of Iceland, regarding postponement of the Executive Board of the review of the Economic Recovery Programme agreed by Iceland and the IMF:

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Postponement of review of Economic programme in cooperation with IMF - 31.7.2009

The Board of the IMF has decided to postpone its discussion of the review of the Economic programme between Iceland and the fund. The discussion had been scheduled for August 3, 2009. More...

Icelandic Parliament votes in favour of applying for membership of the EU - Statement by the Prime Minister of Iceland - 17.7.2009

A historical decision Prime Minister Johanna Sigurdardottir says in her statement. Application to be expected in the coming days. More...

Prime Minister appoints new Governor and Deputy Governor of the Central Bank of Iceland - 29.6.2009

The Prime Minister has appointed Már Guðmundsson as the new Governor of the Central Bank of Iceland, and Arnór Sighvatsson to be his Deputy. Már will take over the helm on August 20, starting his term of five years. More...

Stability Pact signed - 26.6.2009

The Social partners from government, municipalities, Labour Unions and Employer's associations have reached an agreement on a Stability Pact. ,,Extremely important" the Prime Minister stated at the signing ceremony. More...

Prime Ministers Address to the nation on June 17, the National Day of Iceland - 18.6.2009

The Prime Minister addressed the nation on June 17, the National Day of Iceland at Austurvollur outside Parliament. In this annual address the Prime Minister discussed the current economic situation and the future of independence in an ever more interdependent world. More...

Statement by the IMF Mission to Iceland - 29.5.2009

A mission from the International Monetary Fund (IMF), headed by Mark Flanagan, visited Reykjavik May 19-28 to continue discussions for the first review under the US$2.1 billion Stand-By Arrangement, approved on November 19, 2008 (see Press Release No. 08/256).

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IMF First Review of Economic Recovery Programme Near Completion - 29.5.2009

The IMF Mission to Iceland under the direction of Mark Flanagan has, in co-operation with Icelandic authorities, has made considerable progress towards concluding its first review of the government?s Economic Recovery Programme underlying its Stand-by Arrangement with Iceland. More...